Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

UK sees record wave of business closures amid tough environment

by January 17, 2025
January 17, 2025
UK sees record wave of business closures amid tough environment

Britain has recorded its highest number of company closures for two decades, with the final quarter of 2024 seeing 198,046 businesses struck off the official register.

The figure, revealed by research firm Beauhurst, surpasses levels last reached in 2021 and in the aftermath of the 2008 financial crisis.

Henry Whorwood, managing director of research and consultancy at Beauhurst, said the increase in business dissolutions is largely a consequence of last year’s budget measures, combined with a difficult financing climate. “We really need to make sure this doesn’t get worse,” he added.

Separately, data from Zempler Bank, a small-business lender, points to an 8 per cent drop in new company formations throughout 2024, taking the total to 807,000. Rich Wagner, chief executive of Zempler, suggested the higher costs and stricter policing of new incorporations could be deterring many would-be entrepreneurs. Last year Companies House was granted new powers and raised incorporation fees from £12 to £50, which coincided with a year-on-year dip of almost 20 per cent in registrations between May and December.

Wagner said it remains to be seen if these changes will mean fewer, but more resilient, businesses in the long run:

“It will be interesting to see whether the changes at Companies House, which may have the effect of weeding out those who aren’t serious about starting a company, result in a higher proportion of businesses surviving, even in challenging economic conditions.”

Despite nearly 900,000 new companies being registered in 2023, a portion of those were shell entities created for future use, and more than 40,000 were subsidiaries of existing companies. Online retail saw the highest number of formations during that period (82,000), followed by property-letting firms (49,000).

Read more:
UK sees record wave of business closures amid tough environment

0
FacebookTwitterGoogle +Pinterest
previous post
Nvidia CEO’s Comments Shake Financial Markets
next post
Long Bonds Continue to Break Down

You may also like

Funding for UK start-ups falls to six-year low...

October 19, 2024

Government ‘removes state guarantees from almost £1bn in...

November 1, 2023

Uncertainty over tax rises impacting consumer spending, warns...

October 4, 2024

£1m paid to Octopus Energy customers as part...

January 26, 2023

A Conversation with Anna Wilding: Navigating Art and...

February 19, 2025

Banks prejudiced against SMEs new research finds

June 20, 2023

MoD received £211bn worth of suspicious invoices in...

July 25, 2025

Companies House collects just £1,250 in fines despite...

April 7, 2025

HMRC targets specialist agents in crackdown on R&D...

November 18, 2024

Kwarteng considers extending mortgage guarantee scheme after banks...

October 7, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump’s Debanking Order Calls for Investigation, Something Tennessee Should Have Done

      August 9, 2025
    • MIKE DAVIS: Eric Tung is Trump’s pick to bring sanity to the Ninth Circuit

      August 9, 2025
    • How Europe’s car industry can survive the Chinese EV challenge

      August 9, 2025
    • Hiring Software & JavaScript Developers: Skills, Costs, and Best Practices

      August 9, 2025
    • Rakhi Butani on Skincare, Cooking, and the Power of Balance

      August 9, 2025
    • Jeremy Clarkson warns of ‘catastrophic’ UK harvest as farmers battle extreme weather and rising costs

      August 9, 2025

    Categories

    • Business (8,728)
    • Investing (2,191)
    • Politics (16,345)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved